BGY vs VXX: Correlation
Blackrock Enhanced International Dividend Trust (BGY) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGY and VXX?
Over the past 3 years, BGY and VXX moved with a correlation of -0.63, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.78 versus -0.63 over 3 years. Over 5 years the correlation is -0.60, and the annualized covariance of weekly returns is -605.7 %².
VXX is close to the least connected end of BGY's tracked universe, ranking #13 of 13. Their recent paths diverged sharply: over the last 12 months BGY outperformed by 61.6 percentage points (+11.9% for BGY against -49.7% for VXX). Risk is not evenly split, since VXX carries 3.9 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BGY vs VXX: side by side
| BGY (Blackrock Enhanced International Dividend Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.9% | -49.7% |
| 5-year return | +38.4% | -95.6% |
| Volatility (ann.) | 15.7% | 60.9% |
| Beta vs S&P 500 | 0.77 | -3.31 |
| Max drawdown (3Y) | -15.5% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 6.6 | – |
| Dividend yield | 8.63% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGY | VXX |
|---|---|---|
| 2022 | -13.6% | -23.8% |
| 2023 | +13.4% | -72.5% |
| 2024 | +8.7% | -26.2% |
| 2025 | +21.3% | -42.2% |
| 2026 | +6.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGY and VXX good diversifiers for each other?
Yes: at -0.63, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BGY and VXX?
The BGY/VXX correlation stands at -0.63 on a 3-year window (1 year: -0.78, 5 years: -0.60), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for BGY?
Yes: at -0.63, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.63 mean?
On the −1 to +1 scale, -0.63 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bgy-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgy-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BGY correlations · VXX correlations
